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1500 NC-101
Havelock, NC 28532

$1,350,000

Manufactured Housing Mobile Home Park For Sale  •  42,700 Sq Ft

Property Details

  • Property Type Manufactured Housing Mobile Home Park
  • Total Building Size 42,700 Sq Ft
  • Lot Size 9.35 ac
  • Building Class C
  • Year Built 1953
  • Cap Rate 10.37 %
  • Zoning 2
0 Transit Score
0 Walk Score

Description

Situated on 9.35+/- acres in Havelock, NC, Hills Rentals is a 56 pad manufactured housing community with an additional 7 units of multifamily apartments all operating on public water and septic. Of the 56 manufactured housing pads, 45 are currently occupied with homes, 27 of which are park owned.
The community is located in Eastern North Carolina midway between historic New Bern and the beautiful coastline of Atlantic Beach and Morehead City. Havelock is home to the Marine Corp Air Station Cherry Point, the 2nd Marine Aircraft Wing and the Fleet Readiness Center East.
Hills Rentals represents a great opportunity for investors looking to capitalize on low cost value add initiatives such as increasing rental rates and eliminating vacancy. By doing so, new ownership will be able to increase gross income by approximately 20%.

Financial Summary

Cap Rate: 10.37 %

Public Transportation

AirportDriveWalkDistance
Craven County Regional Airport 34 min - 19.1 mi
Nate McDaniel 704-831-4600 Marcus & Millichap Inc
Nate McDaniel 704-831-4600 Marcus & Millichap Inc